`Raise Income Tax`

CHICAGO — Sen. Moynihan`s proposal to cut Social Security taxes is foolish. It`s a cure that`s worse than the disease.

The Bush administration will not stop robbing the Social Security fund in any case.

For 200 years, Americans have been spending more money than they make and probably always will. We buy $4,000 TV sets when a $500 set would do just as well. We buy cars for $40,000 when a $20,000 car would do just as well. We buy microwave ovens to heat a cup of coffee. We buy car phones we don`t really need. We buy $3,500 watches when a $100 watch tells the time just as well.

Yet, our gross national product stinks. We tend to waste and live high on the hog. But ask us for an increase in income taxes and we balk. We would rather borrow the money, without asking, from retirees and future retirees.

For many years our income tax system worked well enough, but then along came Ronald Reagan, who to get elected promised a tax cut that actually helped only those making big salaries. Now Bush wants to help the rich even more by cutting capital gains taxes.

The guy who was making $300 a week back in 1981 could buy an extra six-pack of beer with his tax savings. The guy who was making $200,000 a year could buy a new Cadillac.

We must raise income taxes and stop stealing from retirees and future retirees.